CID HoldCo Shares Surge 72.64% After Hours - CID Holdco (NASDAQ:DAIC)

CID HoldCo (NASDAQ:DAIC) shares jumped 72.64% to $3.47 in after-hours trading Wednesday after the company disclosed an acquisition of Envoy Technologies and related debt restructuring. In a Securities and Exchange Commission filing, CID HoldCo said it will buy 100% of Envoy from BladeRanger Ltd., a 2015 Israeli tech firm behind autonomous robots and drone-based systems for renewable energy infrastructure. The deal, targeted to close by Oct. 6, will issue about 10.8 million shares worth roughly 67.3% of Envoy’s post-closing fully diluted stock. Blink Charging will receive a 20% equity stake.